A Northern Irish furniture components maker has increased profits past the £4m mark and is expecting results to continue to improve despite the challenging economic conditions.
Established in 1990 by twin brothers Brian and Kieran McCracken, BA Components makes kitchen and bedroom doors and furniture components. It has three manufacturing sites in Cookstown, Doncaster and Rotherham.
For the year to 31 March 2017, BA Kitchen Components Ltd reported revenue of £29.3m compared to £29.5m the previous 12 months. Pre-tax profits were up from £3.26m to £4.197m.
“While the current economic conditions remain challenging the directors are confident that their strategy will result in future growth in turnover and profitability,” said a spokesperson for the company.
“Further successful implementation of this growth strategy combined with achievement of improvements in buying, inventory management and overhead cost savings has resulted in the satisfactory results reported for 2017 despite the sector remaining highly competitive and the continued challenging economic conditions.
“Early results for the incoming year are satisfactory and the directors expect another year of satisfactory progress.”
Earlier this month BA received a significant investment from H2 Equity Partners which will support its strategy of continued investment.
Day to day operations will continue as usual and the McCrackens will remain as significant shareholders, working closely with H2 to consolidate BA’s market position and implement the ambitious growth plan.
“We chose to partner with H2 based on their good knowledge of our sector and excellent track record built up over 26 years of working with family-owned businesses,” says Brian McCracken.
“Both Kieran and myself will remain actively involved in the business and look forward to working with H2 to build on the core drivers of BA’s success which are a broad range of high quality products and excellent customer service.”